We live in an unprecedented time. The consequences of the pandemic have halted all aspects of the world economy for a while and created a different new normality. This has strongly influenced marketing approaches in the B2B segment, where in the past marketing was based on one of the more traditional marketing communication tools, such as events and trade fairs. Unfortunately, many of the major business events have been cancelled for 2020. What can B2B companies do and how can they overcome these challenges?
McKinsey highlights the importance of the Chief Data Officers (CDO) as key to shaping crisis responses.
For the last couple of years, we have been talking about Industry 4.0 as part of the digital transformation. The main idea of digital transformation is to connect and intertwine digital and physical technologies using cloud services, artificial intelligence, the Internet of Things and robotics in order to provide more flexible, responsive and connected forms of operation based on data. If this transition to Industry 4.0 has been more subtle in recent years, we have now witnessed exponential progress. What has been the common thread of the past two months? Digitalisation and data. If you were not aware of their significance before the current situation, now, in the light of the new reality, the answers have come. Where is the digital marketing in this process?
In the current situation, the efficiency of advertising is now more important than ever. Thus, it makes sense that the experts in the design of media buying take into account the increasing activity of consumers in digital media and direct their inputs just where the susceptible target group is located.
Miha Rejc, Head of Social-Media Management of iPROM, spoke to Marketing magazin in order to explain how the new reality affects marketing communications and an increase in social media traffic.
Andrej Ivanec, Media Planning Director of iPROM, has conducted an interview with the business magazine »Svet kapitala«, in which he discussed the necessity of targeted advertising in this new reality.
As the physical world stopped in its tracks for a bit, online life has never been more alive. Digital media are breaking visitor number records as are the companies that pivoted to online sales and accelerated their digital channel communication efforts. For companies looking to survive it has never been more important to use advanced digital advertising technologies to communicate with consumers effectively. The winners of this crisis will be those who are ready to become digital.
We currently primarily purchase products related to our immediate needs. With the exception of basic necessities, we shop online and as the government containment measures are lifted gradually, we will return to our shopping habits, although they will be different. Advertising in digital media is a key communication tool for anchoring brands in the consumers’ consciousness. The pandemic will likely force the awareness of this fact onto the last remaining holdouts against digital transformation and digital forms of communication.
Currently, the global influence of the coronavirus pandemic on advertising investments cannot be accurately foretold yet. Considering the IAB survey on US market conditions, we can expect that most advertisers will be redistributing their marketing budgets in the short run.
5G technology will certainly be one of the more talked about topics this year — both in terms of controversy over its harmfulness and over its benefits. Of course, the public and experts are at odds, but we can all agree that 5G is making a profound change — even in advertising.